The abbreviation, it took me a second. Iâm not as down with the kids as I used to be.
[QUOTE=âglasagusban, post: 1081236, member: 1533â]Krugman calls @tallback[/USER] and [USER=193]@balbec on their complete lack of credibility on Greece:
Youth unemployment in Greece is 60% and unemployment is ballpark 30% (after a lot of emigration). If Greece had simply defaulted and left the euro (staying in the EU) instead of taking the bailout and itâs fantasist conditions and projections, itâs arguable they would have gone through the same or maybe worse pain but come out the far side of it already, like Argentina. Instead theyâre probably worse off than when they started.[/QUOTE]
Like Argentina 
Are Argentina out the far side of their default in 1998 or 2014?
Fair enough. I think your undiluted belief in certain policies is stupid and unfounded considering you seem pretty smart. Apart from that youâre generally sound.
[QUOTE=âJulio Geordio, post: 1081251, member: 332â]Like Argentina
Are Argentina out the far side of their default in 1998 or 2014?[/QUOTE]
In a better position than if theyâd agreed to IMF proposals at the time? Absolutely. The IMF has an extremely poor record in development particularly, theyâve utterly fucked up most developing countries they got their toe in the door of. The world bank has done a little better.
Cheers mate. Youâre one of my favourite Limerick posters on here.
@Fagan ODowd wants us dead Mickee. A compliment of sorts.
For what itâs worth, I think they should be given a renegotiation. But they need to collect their taxes.
Generally countries tend to be fucked up before the IMF get their toe in.
Not necessarily so, particularly when weâre talking about developing countries. It really does boggle the mind how bad the IMFâs record actually is.
Well since they have done that and more, and fully complied with the terms of their bailout, the predictions of which have been shown to be farcical, there should be absolutely no problem whatsoever with a renegotiation.
[QUOTE=âglasagusban, post: 1081276, member: 1533â]Not necessarily so, particularly when weâre talking about developing countries. It really does boggle the mind how bad the IMFâs record actually is.
QUOTE]
Yep, theyâre are a finacial organisation. all about making money really. they lend billions to developing counties where these debt systems has forced them to give priority to payments to their creditors over the provision of basic social services.[/QUOTE]
[QUOTE=âglasagusban, post: 1081276, member: 1533â]Not necessarily so, particularly when weâre talking about developing countries. It really does boggle the mind how bad the IMFâs record actually is.
Well since they have done that and more, and fully complied with the terms of their bailout, the predictions of which have been shown to be farcical, there should be absolutely no problem whatsoever with a renegotiation.[/QUOTE]
Yep, theyâre are a finacial organisation. all about making money really. they lend billions to developing counties where these debt systems has forced them to give priority to payments to their creditors over the provision of basic social services.
It goes far beyond that. Their loans come with conditions attached which historically are based on (at the risk of sounding like a leftie conspiracist) neo-lib economic theory. IMF loans are conditional on certain investment treaty law, lifting tariffs, services industry liberalisation, etc etc being fulfilled. The IMF has historically required all this to be done because it considers this will grow economies, but this is with no regard to a statesâ unique conditions or even to sequencing these steps. It takes a one size fits all approach. Edit: in case I havenât made it clear, the result of this approach has been carnage. It has admitted mistakes in recent years so maybe itâs getting better.
[QUOTE=âglasagusban, post: 1081239, member: 1533â]A. Dumb
2. Unfounded
Third, shows you have nothing to support your opinions, which are based on your beliefs rather than any actual facts.[/QUOTE]
Says the professor copying & pasting Krugman articles. :rolleyes:
Itâs a link to an article, ask someone to read it to you, itâs relevant.
Blame the IMF for giving loans to clusterfuck countries?
If you are going to party hard, expect a hangover.
They wouldnât come in otherwise.
I was under the impression that Argentina etc had no obligation to enter deals with IMF etc?
Unless they want loans to develop infrastructure etc.
Interesting piece in The Guardian today:
Surely Enda Kenny and his government should be forging alliances with the other affected countries like Greece, Spain and Portugal instead of being obedient little Troika puppies.
What we have now is the worst possible outcome and some agitation can do no harm.